Luxury stocks starts to get a second look after recent earnings reports from Prada and Michael...

Luxury stocks starts to get a second look after recent earnings reports from Prada and Michael Kors (KORS-1.9%) show that the doom and gloom following a warning from British firm Burberry might not be fully warranted across the sector. Analysts say there could be light at the end of the tunnel for select names as "newness" and "iconic designs" define the winners. On watch: RL, COH, MAGOF.PK, TIF, WRC.